You are hereArchive - Oct 13, 2008
Archive - Oct 13, 2008
Senseless overfishing - world's marine fisheries losing $50 billion each year
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The world's fishing fleets are losing billions of dollars each year through depleted stocks and poor management, according to a UN report. The World Bank and the UN Food and Agriculture Organization (FAO) calculate the losses at $50bn per year. Half the world's fishing fleet could be scrapped with no change in catch.
The report was launched at World Bank headquarters in New York and has been debated here at the World Conservation Congress in Barcelona, Spain. Entitled The Sunken Billions: Economic Justification for Fisheries Reform, it argues that reforming the way fisheries are managed could restore stocks and build profits. "There are two reasons why we are experiencing the huge loss," said Rolf Willman, a senior fisheries planning officer at FAO and one of the report's authors. "One is that global fish stocks are much lower than they could be, so it is harder to catch the amount of fish that we could. "If stocks were higher we could catch the same amount at lower cost. The second reason is that where fishing is poorly regulated, we have much greater harvesting capacity than we need," he told BBC News. read more »
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